MIL-OSI: SimpleCredit to Join the World Bank’s First Green Agriculture Fund in China as a Non-Bank Financial Institution

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Source: GlobeNewswire (MIL-OSI)

CHONGQING, China, July 19, 2021 (GLOBE NEWSWIRE) — The World Bank’s Henan High Guality Green Agriculture Development Promotion Project Kick-Off Meeting was held at the Henan Agricultural Investment International Center on July 8th. Dr. Wang Chuanguo, CEO of SimpleCredit (www.xyd.cn), attended the project- signing ceremony and signed a cooperation agreement with the project implementation agency Henan Agricultural Development Fund Investment Co., Ltd. together with China Construction Bank, China CITIC Bank, and Zhongyuan Bank. SimpleCredit, as a designated partner institution of the World Bank, is the only non-bank institution that provides financial services for this project. SimpleCredit will work with other financial institutions to promote a green and low-carbon development of the agricultural industry, and contribute to the achievement of carbon emission peak by 2030 and the carbon neutrality by 2060. The Director of the World Bank’s East Asia and Pacific Region Agriculture and Food Global Practice Bureau, the leaders of the Henan Provincial Department of Finance, the Chinese Academy of Agricultural Sciences and other financial, research, and industrial institutions attended the meeting.

It is the World Bank’s first green agriculture fund in China, and also the first innovative foreign loan project operated as a fund in Henan Province. The project is an important measure to implement the rural revitalization strategy of the Party Central Committee and the State Council, and practice the concept of green development, which is of great significance. The fund mainly invests in high-quality green agricultural industries and related fields in Henan Province. It adopts the operation method of “direct investment + establishment of sub-funds + joint investment”. It is expected to reduce agricultural non-point source pollution, support the green development of agricultural industry, and have a major impact in improving climate in China and even on a global scale.

To boost the development of green agriculture using technological strength

SimpleCredit joins the cooperation to follow the strategic goals of the World Bank’s Green Agriculture Fund project, so as to reduce the carbon emissions of agricultural enterprises by promoting innovative technological means, and ultimately to achieve the long-term development of green agriculture. SimpleCredit has been deeply involved in agricultural development and actively integrated into the agricultural asset industry chain. Relying on the production enterprises of important agricultural materials such as feed and agricultural machinery, it is providing services for customer groups including the suppliers, producers, sales channels, retail stores, farmers, etc. Accordingly, SimpleCredit is preparing itself to give full play to its experience and advantages in Internet financial services, especially in the aspect promoting agriculture with science and technology, so as to facilitate the use of Internet technology in production and help producers reduce carbon emissions in all aspects of, such as production, supply and sells.

Based on practices in almost three years, SimpleCredit has developed a distinctive finance business model for agricultural supply chain. Within such model, farmers, distributors, manufacturers, and suppliers are placed in a closed-loop customer relationship. With the help of industrial credit data, SimpleCredit established the foundation of financial services and transaction scenarios to solve the payment problem of the industry based on the financing needs of terminal farmers. In this way, upstream production companies can form effective cash flow, which further becomes a basis for production upgrades.

In the World Bank’s Green Agriculture Fund project, SimpleCredit will work with Henan Agricultural Development Fund to assist core companies to speed up the application of new technologies in reducing carbon emissions, including building management platforms such as: commodity order management platform, financial channel management platform, and core enterprise. Once these platforms are completed, the front, middle and back ends can be managed systematically online, and customize product sales for the end consumers and the sales team of core enterprises will become available. Orders can be placed remotely with only one-click via mobile APP, H5 page, and WEB. Boosting the efficiency of core enterprises in terms of human resources and logistics will ultimately reduces the carbon emissions generated by transportation caused by marketing. At the same time, the use of data makes the operation capable of docking with financial channels and achieving paperless operations. The upstream and downstream customers of core enterprises can now manage financing of multiple channels on a single platform, and select services based on the supporting services provided by Henan Agricultural Development Fund.

Dr. Wang Chuanguo, CEO of SimpleCredit, pointed out that SimpleCredit is extremely honored to be part of the Green Agriculture Fund project. Financial support for green and low-carbon development is our inescapable responsibility. The company will spare no effort to give play to its own advantages and actively explore new models, new paths, and new mechanisms, so as to provide financial support to achieve the nation’s goal of carbon peak and carbon neutrality with all partners of the project, and jointly implement the concept of green development and the strategy of rural revitalization.

Media Contact
Company: SimpleCredit Micro-Lending Company Limited
Contact: Jacqueline Zhong, PR Manager
E-mail: jacqueline@xyd.cn
Website: https://www.xyd.cn/
Phone Number: +86 15213249077

SOURCE: SimpleCredit Micro-Lending Company Limited

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